ExxonMobil aims to dispose of MPNU to hit its 2025 divestment targets
Seplat denies ExxonMobil deal under threat
Acquisition of US major’s assets still on track, says Nigerian independent
Nigerian independent Seplat has rejected reports suggesting state-owned NNPC has pre-empted its acquisition of ExxonMobil’s shallow-water assets in Nigeria. Seplat issued a statement saying it had “become aware of newspaper and social media reports that the NNPC has exercised a right of pre-emption" on its deal to acquire the US major’s Mobil Producing Nigeria Unlimited (MPNU) subsidiary. This pre-emption reportedly arose from the existing joint operating agreement (JOA) between NNPC and MPNU, but Seplat “wishes to clarify” that its previously announced SPA with ExxonMobil relates to the acquisition of the share capital of MPNU’s shareholders—comprising Mobil Development Nigeria and Mobil Ex
Also in this section
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
15 April 2026
The country plays a vital role in connecting Asia to Europe, but the expiration of Russian contracts and the ramifications of the war in Iran are placing it under pressure
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
